The Gateway to the Oilsands -
- Manufacturing mecca for oil and gas.
- It is not over-inflated like many Canadian cities.
- Population has grown by 20% in the last decade, is set to grow at a faster level than the national average once again.
- 4300 permanent jobs + 2500 construction jobs coming to S Edmonton by 2020 with new interchange and business area
- 600 fulltime jobs with new Amazon Distribution Center by 2020
- Aggressive approved plans for LRT throughout the region - affecting MANY residential neighborhoods
- 2 Billion Dollar Bitumen Upgrader to create 2000 construction jobs by 2022
- Rents have began rising, vacancies are down while house prices still remain low...for now
- No Land Transfer Tax
- No HST
- Favourable landlord legislation makes for quick evictions and protection from dishonest tenants
Economic highs and lows come faster and stronger so buying and managing smarter is ever more important in this high cashflow city. Finally there is fantastic property management options in Edmonton - if you haven't looked into Edmonton, now is the time - the tide is turning, don't miss the boat!
So what really has happened to Edmonton real estate? Well, investors are definitely being kept on their toes! You have to be a better marketer, a better liaison with your tenants, a better number cruncher (unless you use your Investor Life Preferred Realtor, then its all done for you!) and most of all, better about keeping emotions in check and not letting peoples perception of what is happening, block what people with actual boots on the ground, know is happening. It is taking longer to sell houses, our rents have come down...yes they are now at national levels. So when Edmonton real estate is lower priced than almost anywhere else in the country, and our cashflow has been super strong, do we as investors mind when we now cashflow $500.00 a month instead of $700.00? No, we bought right, so we are OK and when prices go back up, we'll be smiling even bigger. It is imperative in the Edmonton market to buy right. If you don't the highs and lows will make you crazy, but if you do, they will make you crazy happy.
Edmonton is very used to the ups and downs of the energy sector affecting their economy, the long term investors that have been around long enough to see cashflow turn into wealth can tell you that its all about longevity and seeing opportunity. The opportunity is yours. Edmonton is waiting.
Why should I invest in Edmonton?
Four main reasons:
- Cashflow, cashflow and cashflow! Incomes per household are among the highest in all of Canada and housing prices are very affordable. High incomes and inexpensive homes leads us to excellent price/income ratios and price/rent ratios.
- It has favourable landlord tenant legislation, Alberta leads all provinces in this regard. For example, you can raise the rents as much as you want (or as much as the market will bear) once per year. Also, you can collect a full months rent in the form of a real deposit from tenants.
- No land transfer tax, as in other provinces, this can be thousands of dollars in up front savings for an investor, thereby increasing your ROI immediately!
- Long term Outlook - with the world population only needing more and more energy, investing in the energy capital of the world makes common sense. In times where energy prices are lower, this creates a great buying opportunity. Remember Warren Buffett: "Be greedy when others are fearful and fearful when others are greedy" There certainly is fear in the market creating great opportunity for the savvy investor.